I trade two contracts with auto B/E set to 4 ticks of profit and one tick offset (higher/lower than B/E) on my second contract. When my first contract closes in profit the stop loss of my second contract isn’t moving. Am I doing something wrong with my ATM settings? I’m not sure why the first target says “AUTO BREAKEVEN” under it. This is demo trading.
Are you saying that when the fist contract closes out at 4, the Stop for the second contract doesn’t move? If so you have the stop for the second contract set with an offset of +1 so it won’t move until 5.
That’s not how the profit trigger and offset work. Here’s an excerpt from Tradovate Help at https://tradovate.zendesk.com/hc/en-us/articles/360022600173-Do-you-offer-break-even-stops-
To configure a break-even stop:
Open the ATM configuration on either the DOM or chart.
Select Auto Breakeven as the Stop Loss Type.
Set the “Profit Trigger” level so that when reached, your stop will move to break-even.
You can add a positive or negative “Offset” so the stop will move to break-even level plus or minus the set offset amount.
I’m confused, you’re saying that it’s not how it works as you ask for help because it’s not working as you think it should. That’s exactly how the profit trigger works. Not sure what asset you’re using this with but to clarify; you’re trying to trigger both at the price action of 4, but you have a positive offset of 1 for the second item. The price action would have to move to 5 to trigger the breakeven for the second bracket because the system will not add an AB Stop ahead of the price action.
As an example of how I use the AB, here is a snap shot of 1 of the 2 Breakeven Brackets I use on a daily bases for NQ, the only difference is that I use AB + AT.
Good luck
Thanks for clarifying this with the following text: [quote=“KE_vf, post:4, topic:7686”]
because the system will not add an AB Stop ahead of the price action.
[/quote]
That was the key concept I wasn’t grasping.
But the way the documentation describes this, the offset is not a modifier to the profit trigger but rather a modifier to where the stop should go relative to B/E. Since you can’t add an AB Stop ahead of price action, an offset of 1, I think, would mean that the stop is moved to B/E less 1 tick (in my example) in a long trade…and B/E plus 1 tick in a short trade.
What blows a hole in that theory is that you can set the offset to a negative number - which doesn’t jibe with what I just said.
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